Tinubu Unveils Halal Economy Plan to Target $7.7trn Global Market

Nigeria is positioning itself for a segment of global trade that is often underestimated in mainstream policy debates: the halal economy.

A statement says Bola Ahmed Tinubu, represented by Kashim Shettima, launched the National Halal Economy Strategy in Abuja, describing it as a deliberate move to align domestic capacity with global halal standards and capture opportunities in a market valued at about $7.7 trillion.

The halal economy extends beyond food. It spans pharmaceuticals, cosmetics, modest fashion, tourism, and Islamic finance, sectors where standards, certification, and traceability matter. The strategy aims to move Nigeria from being largely a consumer of global halal value chains to a producer and exporter that can compete.

The report stresses implementation. The Vice President reportedly said the success of the strategy will depend on disciplined, inclusive, and measurable execution, especially in job creation and export expansion. That is the right emphasis because “strategy” without certification systems, export readiness, and private sector buy-in becomes a paper exercise.

The most practical angle is export competitiveness. Halal certification can function like a market access key. If Nigeria can build credible certification infrastructure, upgrade processing standards, and support producers (especially agro and consumer goods), the country could enter new trade corridors and attract investment tied to compliance-grade supply chains.

The bigger economic logic is diversification. Nigeria’s export earnings remain concentrated, and the halal market offers a demand pool that is both large and growing. Capturing even a small share would require product quality, reliable logistics, and credible governance of standards.